(MENAFN Editorial) Major segments of the global vegan cheese market are source type, product type, distribution channel, application, and geography. Source type segment comprises almond milk, soy milk, rice milk and other sources (Include coconut milk, peanut milk, hazelnut, and cashew).

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By product type, market is categorized as parmesan, mozzarella, cheddar, cream cheese and other product types. Large retail, specialty store, small retail, and online are the sub-segments of distribution channel. Further, application comprises dips & sauces, fast food snack, bakery & confectionery, and other applications.

Geographically, the global vegan cheese market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.

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Global Vegan Cheese Market is estimated to reach $3,906 million by 2024; growing at a CAGR of 7.6% from 2016 to 2024. Vegan cheese is dairy-free cheese which is easy to digest. Vegan cheese is completely plant-based and is produced by various sources such as almond milk, soy milk, rice milk and other sources such as coconut milk, peanut milk, and others. Various factors such as growing consumer demand for environmentally friendly, and animal-free sources of protein, rising concerns over antibiotic, allergens, & hormone use, animal welfare concerns are driving the growth of the global vegan market. Various applications of vegan cheese such as in fast food snack, bakery & confectionery also support the growth of the market.

Major factors driving the global vegan cheese market are changing consumption pattern, growing number of vegan consumers, growing dairy-alternative cheese market, globalization, and increasing awareness of lactose intolerant conditions. However, high price may hamper the market growth. Furthermore, evolving markets and growing awareness through advertisements and promotional activities would unfold with numerous growth opportunities in the forecasted years.

The major market players operating in vegan cheese market include Dr. Cow, Tree Nut Cheese, Uhrenholt A/S, Kite Hill, Miyokos Kitchen, Vtopian Artisan Cheeses, Heidi Ho., Hochland Group, Parmela Creamery, and Treeline Treenut Cheese among others.
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